NEW YORK (dpa-AFX) – On Monday, nervous investors caused the New York stock exchange to go up and down with a positive end result. In addition to interest rate and inflation concerns, increasing geopolitical fears initially kept the US stock market on a downward slide. At the lowest level of the Dow Jones Industrial (Dow Jones 30 Industrial) since the beginning of April, courageous investors then grabbed it again at 33,150 points. The leading index fully recovered from a peak loss of more than three percent.
With a final spurt, the Dow Jones Industrial even managed to gain 0.29 percent by closing at 34,364.50 points. Compared to the daily low, he had regained about 1200 points. The broader S&P 500 finished 0.27 percent higher at 4410.13 points and the tech-heavy NASDAQ 100 recovered 0.49 percent from its slide over the past few days. He closed at 14,509.58 points.
In addition to high inflation and the associated expectation of faster interest rate increases, the Ukraine conflict in particular was seen as a growing burden on Monday. In the course, however, investors took heart. The recovery gained momentum in late trade on news that officials from Russia and Ukraine will meet for talks in Paris on Wednesday. As far as monetary policy is concerned, investors are looking forward to Wednesday, when fresh comments from the US Federal Reserve are expected on the interest rate decision.
Among individual stocks, the Dow had no winners at times in early trading, but by the end almost half of the members were above breakeven. The shares of the hardware store chain Home Depot led the leading index with an increase of 4.2 percent. They probably benefited from general industry speculation, which went hand in hand with takeover speculation about the retailer Kohl’s (Kohls).
Its papers went through the roof on Monday with a price increase of more than a third. At the beginning of the week, the retail chain confirmed the receipt of several letters from potential takeovers. The Bloomberg news agency had previously reported at the weekend, citing circles, that a group of financial investors was offering around nine billion US dollars.
The picture also changed among the recently penalized technology stocks. The titles of the software group Salesforce ultimately managed to gain more than two percent in the Dow. With a slight increase of 0.1 percent, this also applied to Microsoft, from which the software giant is eagerly awaiting the quarterly figures after the trading day on Tuesday.
Tesla, Apple and Intel can also come up with numbers over the course of the week. Here, however, the papers did not quite manage to make up for their losses. Although the Tesla shares recovered significantly from their lowest level since mid-October, in the end there was still a price loss of 1.5 percent. Apple lost half a percent and Intel around 0.2 percent.
The same applied to Netflix titles: with a discount of 2.6 percent, they continued their price slump on Friday due to a particularly disappointing subscriber outlook. The streaming provider, whose business had been boosted during lockdown times, is gradually losing the last price gains since the outbreak of the corona pandemic in spring 2020.
On the Nasdaq, however, the shares of Peloton (Peloton Interactive), another former corona profiteer, which had been punished for a long time, rose by almost ten percent. The driving force here was a report of a letter from an activist shareholder demanding the resignation of the company boss and a sale of the fitness equipment group.
The euro also had its ups and downs on Monday. Having fallen below the $1.13 mark at times, the common currency was last listed at $1.1328. The European Central Bank set the reference rate at 1.1304 (Friday: 1.1348) dollars. The dollar thus cost 0.8846 (0.8812) euros.
US government bonds initially benefited from their status as a safe haven, but in the end the futures contract for ten-year Treasuries (T-Note Future) fell by 0.1 percent to 128.19 points. In return, the yield on ten-year government bonds rose to 1.77 percent./tih/he
— By Timo Hausdorf, dpa-AFX —
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